Siemens Announces U.S. Leadership Changes

November 30, 2016 12:23 PM Eastern Standard Time

WASHINGTON--(BUSINESS WIRE)--Siemens Corporation today announced that Eric Spiegel (59), CEO of
Siemens in the U.S., will leave the company at the end of the year. Lisa
Davis (53) has been appointed Chair and CEO of Siemens Corporation,
effective January 1, 2017. Judith Marks (53) has been appointed Siemens
CEO U.S., effective the same date.

“Eric has grown Siemens’ business and furthered our reputation in the
U.S. as a critical contributor to the country’s economic, manufacturing
and innovation engines, and we thank him for his leadership,” said
Davis, who leads the company’s global energy operations from its oil and
gas headquarters in Houston. “Judy has a deep knowledge of Siemens’
entire portfolio that will serve us well during this time of transition
and into the future.”

“In announcing my retirement, I am tremendously proud of what my team
and I were able to accomplish over the last seven years for one of the
world’s leading industrial companies in Siemens’ largest market,” said
Spiegel. “As the new Administration and Congress begin to outline their
priorities, the time is right for Lisa and Judy to guide the company’s
outreach and engagement from day one.”

Marks began her career at Siemens in 2011 as President and CEO of
Siemens Government Technologies, Inc., where she led the company’s
approach to the federal market. Before coming to Siemens she spent 27
years with Lockheed Martin and its predecessor companies. She will
assume the CEO U.S. role in addition to her current position as
executive vice president at Dresser-Rand, a Siemens business.

“I look forward to working with Lisa, Siemens employees, and Siemens’
customers during an exciting moment in the company’s history,” said
Marks. “Our mission is to make real what matters. It’s to continue
setting the benchmark for electrification and automation for our
customers while pushing into our newest chapter where we do the same
with digitalization. This is a company that is uniquely capable of
delivering immense value both to customers and to communities across the
U.S.”

Siemens has been in the U.S. for more than 160 years and has invested
$35 billion in America in the last 15 years alone. With 50,000 U.S.
employees and approximately 75 manufacturing sites, Siemens in the U.S.
is using its global leadership in engineering and technology innovation
to meet America’s toughest challenges, delivering solutions for
industry, hospitals, utilities, cities, and manufacturers: from
efficient power generation, to digital factories and oil and gas fields,
to medical diagnostics, to locomotives, to next-generation software used
in every phase of product development.

Siemens Corporation is a U.S. subsidiary of Siemens AG, a global
powerhouse focusing on the areas of electrification, automation and
digitalization. One of the world’s largest producers of
energy-efficient, resource-saving technologies, Siemens is a leading
supplier of systems for power generation and transmission as well as
medical diagnosis. With approximately 351,000 employees in 190
countries, Siemens reported worldwide revenue of $88.1 billion in fiscal
2016. Siemens in the USA reported revenue of $23.7 billion, including
$5.4 billion in exports, and employs approximately 50,000 people
throughout all 50 states and Puerto Rico.

Siemens AG (Berlin and Munich) is a global technology powerhouse
that has stood for engineering excellence, innovation, quality,
reliability and internationality for more than 165 years. The company is
active in more than 200 countries, focusing on the areas of
electrification, automation and digitalization. One of the world’s
largest producers of energy-efficient, resource-saving technologies,
Siemens is a leading supplier of efficient power generation and power
transmission solutions and a pioneer in infrastructure solutions as well
as automation, drive and software solutions for industry. The company is
also a leading provider of medical imaging equipment – such as computed
tomography and magnetic resonance imaging systems – and a leader in
laboratory diagnostics as well as clinical IT. In fiscal 2016, which
ended on September 30, 2016, Siemens generated revenue of €79.6 billion
and net income of €5.6 billion. At the end of September 2016, the
company had around 351,000 employees worldwide. Further information is
available on the Internet at www.siemens.com.